Principal Financial Group Inc. Boosts Stock Holdings in Innovex International, Inc. (NYSE:INVX)

Principal Financial Group Inc. increased its position in shares of Innovex International, Inc. (NYSE:INVX) by 5.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 192,628 shares of the company’s stock after purchasing an additional 10,170 shares during the period. Principal Financial Group Inc. owned 0.28% of Innovex International worth $3,460,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Innovex International by 4.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,626 shares of the company’s stock worth $274,000 after buying an additional 836 shares during the period. Maryland State Retirement & Pension System raised its holdings in Innovex International by 9.0% during the fourth quarter. Maryland State Retirement & Pension System now owns 12,681 shares of the company’s stock worth $177,000 after purchasing an additional 1,047 shares in the last quarter. Prudential Financial Inc. raised its holdings in Innovex International by 3.3% during the fourth quarter. Prudential Financial Inc. now owns 38,001 shares of the company’s stock worth $531,000 after purchasing an additional 1,200 shares in the last quarter. GAMMA Investing LLC raised its holdings in Innovex International by 169.7% during the first quarter. GAMMA Investing LLC now owns 2,101 shares of the company’s stock worth $38,000 after purchasing an additional 1,322 shares in the last quarter. Finally, New York State Teachers Retirement System raised its holdings in Innovex International by 2.3% during the first quarter. New York State Teachers Retirement System now owns 61,132 shares of the company’s stock worth $1,098,000 after purchasing an additional 1,399 shares in the last quarter.

Innovex International Price Performance

NYSE:INVX opened at $15.85 on Friday. Innovex International, Inc. has a 12 month low of $11.93 and a 12 month high of $19.42. The company’s 50-day moving average price is $15.44 and its two-hundred day moving average price is $16.09. The firm has a market cap of $1.09 billion, a PE ratio of 6.05 and a beta of 0.82. The company has a quick ratio of 2.49, a current ratio of 4.34 and a debt-to-equity ratio of 0.02.

Innovex International (NYSE:INVX) last released its earnings results on Tuesday, May 6th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). The business had revenue of $240.42 million during the quarter, compared to the consensus estimate of $247.73 million. Innovex International had a net margin of 16.68% and a return on equity of 7.14%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on INVX shares. Wall Street Zen cut shares of Innovex International from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. Piper Sandler assumed coverage on shares of Innovex International in a research note on Tuesday. They set an “overweight” rating and a $20.00 price target on the stock. Johnson Rice raised shares of Innovex International to a “strong-buy” rating in a research report on Friday, May 30th. Finally, Barclays lowered their price objective on shares of Innovex International from $16.00 to $13.00 and set an “underweight” rating for the company in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

Innovex International Company Profile

Innovex International, Inc engages in the provision of solutions for both onshore and offshore applications within the oil and gas industry. The company was founded on September 15, 2016 and is headquartered in Humble, TX.